London Stock Exchange welcomes Round Hill Music Fund Ltd. to the Specialist Fund Segment of the Main Market
Founded in 2010, Round Hill is a fully integrated owner and operator of music copyright properties and the seventh largest music publishing company in the US. Headquartered in New York with additional offices in Nashville, Los Angeles and London, Round Hill has an experienced management and investment team with an established reputation and extensive experience in the music and finance industries.
The Company's Investment Objective is to provide investors with an attractive level of regular and growing income and capital returns from investment primarily in high quality, music intellectual property. In order to achieve its Investment Objective the Company will invest in a songwriter's copyright interest in a musical composition or song (being their writer's share, their publisher's share and their performance rights) together with the rights in the recording of the musical composition or song (known as the master recording rights) together with all such rights and assets considered by its investment manager, Round Hill Music LP ("Round Hill" or the "Investment Manager") to be ancillary thereto.
Commenting on the Initial Public Offering, Trevor Bowen, Chair of the Company said:
"I am delighted to announce the successful IPO of Round Hill Music Royalty Fund Limited. When considered against the global turbulence prevalent during the IPO process due to Covid-19, this achievement clearly demonstrates a strong investor appetite for both the music royalty asset class, the performance of which is highly uncorrelated to movements in the global economy, and the recognised expertise of the Round Hill team as an investment manager in this sector. On behalf of the Board I welcome our new shareholders and thank them for their support, and we look forward to updating you all on the progress of Round Hill and their team, as we together develop the Company as a listed entity.
The Company has an identified portfolio of exceptional songs and catalogues including classic tracks from some of the world's best-known artists that are already extremely familiar to the Investment Manager. We will actively progress and update on our intention to purchase the identified portfolio for the Company as soon as practical."
Josh Gruss, CEO of Round Hill commented:
"All of us at Round Hill are very pleased with and encouraged by the strong level of support for the IPO of Round Hill Music Royalty Fund Limited. This marks the next stage in Round Hill's development in London, a market with sophisticated investors that understand music royalties and the potential from this asset class. We look forward to working closely with the Board in maximising returns for new investors."